Why Review Management Matters
Online business reputation represents your brand, and reviews management is how a company maintains a good name. Brand management is dependent on successful online reputation management. Reputation Management is the key to successful “Transparent Marketing” – the next generation of marketing – where customers find your company due to its great reputation rather than only based on the products and services offered.
Further, the way that customers find your company is often through its online customer reviews, the new version of a personal recommendation. The benefits of Online Reputation Management include increased trust, higher revenue, improve customer satisfaction, reduced risk, liability, and better ROI of marketing costs.
ReviewInc has conducted annual studies on the influence to choose a service with reviews, ratings, and referrals as some of the highest influence. People look to others’ opinion when choosing a company to work with. In fact, according to Nielsen, 83% of people trust referrals from friends and over 70% trust them more than advertising. In addition, online reviews are the core of online reputation management. The bottom line: customers trust online reviews.
If customers see that your company has responded to both good and bad reviews, it shows that your company has an active presence online and is listening and interacting with customers. Replying to social media comments is another way to increase trust and engagement.
Some statistics on the benefits of online reviews management are below:
CONSUMERS READ REVIEWS AND CONSIDER THEM IMPORTANT
After having a positive experience, 77% would consider recommending to a friend (Experience Matters, 2017)
of people trust reviews on review sites when choosing a business to work with over other options (ReviewInc, 2020)